President Obama says it’s Time to Change Overtime Rules

President Obama says it’s Time to Change Overtime Rules

Washington (CNN) – The President says it’s time to update regulations on who qualifies for overtime protection.

Obama says, “I’m going to use my pen to give more Americans the overtime pay they deserve. Overtime’s a pretty simple idea. If you have to work more, you should get paid more.”

Current rules governing overtime pay are “wrong,” President Barack Obama said Thursday as he signed an order directing his administration to reexamine how employees are paid for working more than 40 hours per week.

“Overtime is a pretty simple idea. If you have to work more, you should get paid more,” Obama said at the White House. “Unfortunately today, millions of Americans aren’t getting the extra pay they deserve.”

Currently, most hourly workers must be paid time-and-a-half if they work more than 40 hours a week. Most salaried workers do not need to be paid overtime, unless they earn less than $455 a week.

But that works out to $23,660 a year, which is less than the federal poverty level for a family of four.

The $455 threshold for overtime hasn’t been raised in 10 years, since President Bush upped it from $250 a week. It would be $553 today if it had gone up in line with inflation.

Skillpot

It sounds good on paper! But, with the Obama mess, what is going to happen with those who have been converted to 30-hours, or less per week, to avoid the insurance penalty? It is a shame that High Society (Corporate America) has to be forced to apply these standards!

Back when Investment Credit was born, Corporate America waited for a bigger slice of the pie, so, the plan was not effective! High Society will just find a way around the fed imposition!

TC

It’s a fluff piece. Not a lot or people making that little on salary. It will have little to no impact on the populace. And as the poster above me stated, they’ll just reduce the time to below 40 hours a week to save money.
The thing is though, if you are not making enough where you are, keep looking. There are quite a few openings out there making a lot more than $11.38/hr.